April Fortnight Review: FPIs Sell Aggressively Across Equity & Debt, DIIs and MFs Provide Support
FPIs Stay Highly Risk-Off in First Half of April; Financials See Heavy Unwind, Buying Limited to Power
FPI Selling: Financial Services Leads the Outflows – During 1st–15th April 2026, FPI selling was heavily concentrated in Financial Services, which saw massive outflows of ₹19,152 Cr, making it the biggest drag during the fortnight. Selling was also strong in Consumer Services (₹5,336 Cr) and Healthcare (₹4,481 Cr), followed by Automobile & Auto Components (₹3,704 Cr), Oil, Gas & Consumable Fuels (₹3,352 Cr), FMCG (₹2,976 Cr), Telecommunication (₹2,492 Cr) and Realty (₹1,917 Cr). This reflects a broad-based risk-off trend, with FPIs reducing exposure across key large-cap and consumption-linked sectors.
FPI Buying: Selective and Very Limited – On the buy side, FPI interest remained extremely selective, with Power attracting ₹601 Cr of inflows. Other buying was negligible, with Diversified at ₹5 Cr and Utilities at ₹4 Cr, indicating that FPIs largely stayed away from fresh sectoral allocations during the fortnight.
FPIs Stay Risk-Off in Early April: FPIs remained aggressive sellers in Indian equities during the first half of April 2026, recording net outflows of ₹48,139 Cr between 1st–15th April. Selling was consistent, with only one buying day in nine trading sessions, reflecting continued caution toward Indian markets. While primary market flows stayed positive at ₹726 Cr, the pressure came from the secondary market, where FPIs sold ₹48,865 Cr, signalling sustained risk-off sentiment in listed equities. Despite aggressive FPI selling, domestic liquidity and sharp index recovery kept market sentiment resilient in the first half of April.
DII Buying Remains Robust: Domestic Institutional Investors continued their strong buying momentum in the first half of April 2026, with net equity purchases of ₹37,846 Cr during 1st–15th April. For CY2026 so far, DIIs have invested a strong ₹2,88,450 Cr in Indian equities, reinforcing their role as the key stabilising force in the market.
MF Equity Buying Holds Firm: Mutual Funds remained net buyers in equities during 1st–15th April 2026, investing ₹18,402 Cr. On a CY2026-to-date basis, MFs have invested ₹1,70,925 Cr in equities, providing a strong domestic cushion amid continued FPI selling pressure.
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